Intangibles

Intangible Property is property that has value but cannot be seen or touched. Generally, you can either amortize or depreciate intangible property.

You must generally amortize over 15 years the capitalized costs of “section 197 intangibles” you acquired after August 10, 1993. You must amortize these costs if you hold the section 197 intangibles in connection with your trade or business or in an activity engaged in for the production of income.